Bitcoin is moving higher within the daily period after violating all key resistances below their maximum of all time. It is likely that a test of the upper limit of the channel is produced before a corrective phase is established, aimed at $ 135,000.
Summary
- $ 119K is the level of critical support that maintains the upward structure.
- BTC is approaching the high resistance to the time frame beyond the maximum of $ 135K.
- The rejection can activate the range between $ 100K and the upper part of the channel.
Bitcoin (BTC) It has cleaned multiple levels of resistance, leaving only the maximum of all time ahead. Once this final barrier is violated, an accelerated thrust could activate in the high strength area of the channel. However, this area can act as a limit for price action, which leads to rejection and rotation towards established support.
Key technical points
- Current support: $ 119K is still critical to keep the bullish projection intact.
- Immediate objective: High resistance of the channel above the maximum of all time.
- Potential rotation: The rejection of resistance could lead to a new $ 100K test.
From a technical point of view, the price of Bitcoin is gravitating towards the higher regions of its commercial channel at $ 135,000. The rupture through previous resistance levels has created a clear path to the historical maximum, and beyond that, the upper limit of the channel.
This resistance zone is significant, since the historical action of the price suggests that Bitcoin often stops or is invested after extended runs towards high time frame resistance. A rejection of this area would not necessarily finish the bullish structure, but it would probably trigger a rotational movement towards the $ 100,000 support, placing BTC in a wide consolidation phase within the channel.
The main upward condition is that the $ 119,000 support continues to maintain its end. This level now acts as the structural anchor for the current upward trend. A rape under it would change the dynamics of the market towards a deeper correction and possibly a new lower rank levels test.
In the short term, the price action is still prepared for more rise. Merchants must closely observe impulse changes as BTC approaches the high strength zone. The sustained purchase volume through this area could open the door to the rapid discovery of prices, while a rejection would confirm the anticipated scope behavior between $ 100,000 and the maximum of the channel.
What to expect in the next price action
Bitcoin is likely to continue the tendency towards its high channel, located on the current maximum of all time. A rejection of this area could lead to a prolonged range between the $ 100,000 support and the resistance of the upper channel at $ 135,000.
